LISLE, Ill., March 11, 2014 /PRNewswire/ -- Navistar International Corporation (NYSE: NAV) announced today that Michael Sirignano, Principal at MHR Fund Management LLC, has been elected to its board of directors at the company's annual shareholder's meeting on March 10. The election of Sirignano increases the number of Navistar board members to 10.
"We are very pleased to welcome Michael Sirignano to the Navistar board of directors," said Troy A. Clarke, Navistar President and Chief Executive Officer. "Michael has extensive experience in our industry and is deeply familiar with our company. We look forward to benefitting from his valuable perspective as we continue to make progress on our Drive to Deliver."
Sirignano has served as Principal at MHR Fund Management LLC since 2012, where he is responsible for sourcing and managing portfolio company investments. From 2006-2011, Sirignano was at Owl Creek Asset Management, L.P., a value-oriented investment firm, where he was focused on equities and distressed debt in the industrial, housing, metals and mining, telecommunications and technology sectors. He began his career as an analyst with Rothschild, a global financial advisory group. Sirignano holds a B.A. in Economics, with honors, from Williams College.
Shareholders at the meeting also re-elected eight incumbent directors for a one-year term. They are:
Dennis Williams, a director since 2006, and the UAW's Secretary, Treasurer and Director, Agricultural Implement and Transnational Departments, is not elected by shareholders. Per a 1993 agreement with the UAW, that director's seat is filled by a person appointed by the UAW.
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, and IC Bus™ brand school and commercial buses. An affiliate also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com.
SOURCE Navistar International Corporation
For further information: Media contact: Steve Schrier, 331-332-2264, Investor contact: Heather Kos, 331-332-2406, Web site: www.Navistar.com/newsroom